Dry bulk shipowner: We beat the market by far

Dry bulk carrier Pacific Basin only eyes moderate improvements in the market entering the second quarter, but the company is pleased with the earnings from the first three months of the year.

Hong Kong-listed dry bulk carrier Pacific Basin only eyes marginally improved market conditions entering the second quarter of 2015, says the carrier in a statement for the first quarter.

"While moderately improved, the dry bulk freight market going into the second quarter continues to be weak as sluggish demand fails to fully absorb the oversupply of ships built up in 2010-2012," writes the carrier.

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